Bitcoin Jumps to Record Price as Ethereum Hits 3-Year High

Traders betting against price gains for Bitcoin and Ethereum are licking their wounds Monday, with short liquidations piling up as BTC mines record territory and ETH hits a peak not seen since 2021.

Bitcoin peaked at a new all-time high price of $107,822 on Monday around 1:30pm ET, per data from CoinGecko, with the price of the leading cryptocurrency continuing to nudge higher today after breaking the previous record on Sunday.

A record price of just under $104,000 had been set in early December when Bitcoin hit the $100K milestone for the first time, and that peak was surpassed late Sunday as BTC rose to a new peak of $106,352. That mark has now been surpassed.

BTC

-4.13%$80,887.51

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Meanwhile, Ethereum rose as high as $4,081 Monday, hitting that mark just before 2pm ET. It's the highest price recorded by CoinGecko since December 2021, just barely edging out peaks from March and earlier in December this year.

As of this writing, Bitcoin's rise has cooled slightly, with a current price of $106,202. It's up nearly 3% on the day, with its weekly climb sitting at 8.5%.

Down slightly to $4,041 as of this writing, ETH is still up more than 3% on the day. However, the price of Ethereum remains 16% off its all-time high mark of $4,878 set back in November 2021.

Ethereum Price Could Hit $5,000 Due to Institutional Demand: CryptoQuant

Ethereum (ETH) could soon break above $5,000 per coin due to increased institutional demand, according to a new report, which would mark a record price for the second-largest cryptocurrency by market cap. Not only that, but activity on the chain is buzzing, according to market intelligence firm CryptoQuant. The firm said in a Thursday note that inflows to the new ETH exchange-traded funds, or ETFs, had broken records. Last week, investors pumped Ethereum funds worldwide with $1.2 billion in new...

Bitcoin's continued gains are stinging holders of short positions, with over $133 million worth of the contracts liquidated over the past 24 hours, according to CoinGlass. Liquidated Ethereum shorts during the same span total nearly $68 million.

Overall, Bitcoin liquidations tally $177 million over the past day out of $489 million worth of liquidations tied to crypto assets, while Ethereum liquidations add up to $97 million including long positions.